Welcome to our dedicated page for Garmin news (Ticker: GRMN), a resource for investors and traders seeking the latest updates and insights on Garmin stock.
Garmin Ltd. (NYSE: GRMN) is a globally recognized leader in the development of GPS-enabled hardware and software across five verticals: fitness, outdoors, auto, aviation, and marine. Established in 1989 in Kansas City, Garmin has grown exponentially, maintaining its entrepreneurial spirit while fostering a culture where every voice counts. This ethos drives the company’s innovative spirit, making technology accessible and meaningful to a global audience.
Garmin’s product portfolio includes a wide range of devices tailored to meet the needs of various niche activities such as scuba diving, sailing, and off-road adventures. The company’s GPS systems are known for their reliability and precision, making them favorites among athletes, outdoor enthusiasts, and professionals alike. Garmin's presence is truly global, with operations in over 100 countries and a diverse network of distributors and original equipment manufacturer (OEM) partnerships.
Recently, Garmin has made significant strides in expanding its offerings and enhancing product capabilities. For instance, the company’s Unified Cabin™ automotive suite was showcased at CES 2024, featuring advanced technologies like Dolby Atmos audio, zoned voice assistance, and improved device connectivity. Garmin's collaboration with leading automobile manufacturers such as BMW, Daimler, Ford, and Honda further underscores its commitment to innovation and quality.
In the marine segment, Garmin launched the Panoptix™ PS70, a groundbreaking live sonar device capable of providing real-time views at depths of up to 1,000 feet. This technology offers a video-like experience with rapid updates, setting a new standard for deep-sea sportfishing. The company's marine products continue to revolutionize the industry, earning accolades and solidifying Garmin's position as a market leader.
Financially, Garmin is robust, consistently achieving record revenue in multiple segments. In 2023, the company reported record full-year revenue across three of its five segments, driven by the successful launch of new products and strong market demand. Garmin’s financial health is further highlighted by its significant operating cash flow and a well-maintained dividend policy, ensuring long-term value for shareholders.
Garmin’s future projects and partnerships are indicative of its forward-looking strategy. The company continues to collaborate with industry leaders like Kawasaki and Vuzix to integrate advanced technologies into its offerings, ensuring that it remains at the forefront of innovation in the tech world.
Garmin has launched the Edge 1040 Solar, a state-of-the-art GPS bike computer that offers solar charging and multi-band GNSS technology. With a battery life extending up to 100 hours in battery saver mode, it enhances ride time significantly. This device features a modern user interface with a 3.5-inch touchscreen, allowing cyclists to customize their experience. Key advancements include real-time stamina insights, training analytics, and improved navigation tools. Priced at
Garmin has launched the Forerunner 955 Solar, its first GPS running smartwatch featuring solar charging, coinciding with Global Running Day. The watch boasts up to 20 days of battery life in smartwatch mode and 49 hours in GPS mode. With a full-color display and responsive touchscreen, it offers advanced training metrics such as heart rate variability and a new race widget. Additional features include multi-band GPS, real-time stamina insights, and advanced health monitoring tools. The device is priced at
Garmin has launched the GHC 50, a 5-inch touchscreen autopilot display that enhances control and readability for its GHP Reactor autopilots. This modern design features an anti-glare display and integrates seamlessly with Garmin multifunction displays. Users can control the autopilot wirelessly via compatible marine smartwatches. The GHC 50 is priced at $799.99 and is now available. This innovation aims to simplify navigation for both powerboats and sailboats, reinforcing Garmin's position as an industry leader in marine electronics.
Garmin has launched the Varia™ RCT715, a rearview radar integrated with a camera and tail light, designed to enhance cyclist safety. This device continuously records at 1080p and saves footage automatically if an incident is detected. The Varia RCT715 offers visual and audible alerts for vehicles up to 153 yards away, with a tail light visible from a mile. The suggested retail price is $399.99, available on garmin.com. Garmin aims to improve cycling safety with this innovative device.
Garmin celebrates the delivery of its 750th G1000 NXi integrated flight deck upgrade for King Air aircraft, enhancing operational benefits and aircraft utility.
Installed on a King Air B200C for the U.S. Army, this upgrade includes significant features such as Synthetic Vision Technology and improved flight displays. The G1000 NXi retrofit offers modernized avionics, weight savings of over 250 pounds, and seamless upgrades for existing G1000 owners, solidifying its position as the most successful integrated flight deck upgrade for the King Air family.
Garmin Ltd. (NYSE: GRMN) has secured a multi-year title sponsorship agreement for the Garmin Kansas City Air Show, set to take place on
Garmin (NYSE: GRMN) has launched the ECHOMAP UHD2 chartplotter series, available in 5-inch and 7-inch displays, featuring advanced sonar capabilities and built-in wireless networking. The units offer 500W sonar power, a sunlight-readable display, and easy navigation with physical buttons. The UHD2 series allows users to wirelessly share data and supports the Garmin Navionics+ cartography. Prices range from $399.99 to $649.99. The new models are designed for efficiency and ease of use, enhancing fishing experiences with improved mapping and sonar features.
Garmin has unveiled the quatix 7 Series, a premium marine GPS smartwatch designed for boating enthusiasts. The series includes three models: quatix 7, quatix 7 Sapphire, and quatix 7X Solar, featuring a vivid always-on touchscreen and enhanced battery life—up to 16 days for Sapphire models and 90 days in battery saver mode for Solar models. Key features include MFD control, anchor drag alerts, and advanced GPS positioning. Prices range from
Garmin Ltd. (NYSE: GRMN) reported record first-quarter revenue of $1.17 billion, marking a 9% year-over-year increase. Key segments showed mixed performance: Fitness revenue declined 28%, while Outdoor saw an impressive 50% growth. Operating income reached $229 million, down 8% from last year, with GAAP EPS at $1.09. The company launched new products, including updated adventure watches and high-resolution sonar technology. Despite challenges from rising freight costs and supply chain issues, Garmin aims for a full-year revenue of $5.5 billion.
FAQ
What is the current stock price of Garmin (GRMN)?
What is the market cap of Garmin (GRMN)?
What are the main product verticals for Garmin Ltd.?
How does Garmin distribute its products globally?
What recent advancements has Garmin made in automotive technology?
What is the Panoptix™ PS70?
How did Garmin perform financially in 2023?
Which automobile manufacturers are partnering with Garmin?
What is Garmin's approach to product innovation?
Where is Garmin headquartered?
What makes Garmin's marine products stand out?
What are some of Garmin's recent achievements in the fitness segment?
